Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
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64 S C T / A U G U S T 2 0 1 6 AVENTURA ADDITION A ventura (Fla.) Mall is getting even more luxurious, with a three-level, 315,000-square-foot expansion under way that will add room for more high-end tenants. The new wing, expected to open this fall, will in- clude several destination restaurants, some three dozen stores, a new food court with in- door/outdoor seating and a rooftop garden, and a VIP concierge area available for private dinners and events. Designed by architect Carlos Zapata and JPRA Architects, the wing will be built on the east side of the property, near Macy's. The contemporary space will minimize the sepa- ration of indoors and outdoors with an im- mense glass facade and a skylight that extends the entire length of the concourse, says Jackie Soffer, co-chairman and CEO of Turnberry Associates, the property's owner and manager. The continuous 350-foot skylight will run the length of the new wing, providing natural lighting as well as views of the mall's rooftop terrace. An 84-by-50-foot glass wall at the en- trance of the expansion will offer panoramic views of the center's landscaped courtyard, blurring the line between interior and exterior, Soffer says. The new wing also offers interior One of Florida's upscale malls is getting a makeover S I T E S & C I T I E S Aventura, Fla., is a submarket of Miami. It had nearly 6.2 million square feet of retail in the first quarter of 2016, according to CBRE, with just a 1.3 percent vacancy rate. During the first quarter, about 17,750 square feet of new retail space was leased by retailers, at an average asking rate of $32.31 per square foot. By comparison, the Miami average vacancy rate was 3.3 percent, and the average asking lease rate was $31.88 per square foot.